Paris, France March 31st 2020: extract Press Release
Paris, France, March 31, 2020 – The popular French watch brand, Rich Gone Broke, has been acquired by Min International for an undisclosed amount. The brand was founded and previously owned by Red Luxury, a Paris-based jewelry and watch company that designs, manufactures, and distributes over 10 brands.
Founded in 2013, Rich Gone Broke brought a stylish, chic French style to watches. After gaining huge popularity in France, thanks to the tireless work of Red Luxury, the brand took off in China and select markets around the world. Min International will now lead the second stage of the brand’s evolution and bring it to an even larger number of watch communities through its global network of distribution partners.
“Asia has always been one of Rich Gone Broke’s top markets.” Romain Benichou, CEO of Red Luxury explains, “We could not imagine better owners than Min International, which has been the brand’s exclusive Korean distributor for more than 4 years”.
Rich Gone Broke will relaunch worldwide in FW 2020 with fresh new designs, eco-friendly materials and an improved ecommerce website. The brand will maintain its original fashion-forward French DNA.
Min International is a Seoul-based brand management and business development firm. Its founder has extensive experience in the watch industry, having previously worked with Chopard, Patek Philippe, Ferragamo, Fendi, and Coach, among other fashion watch brands.